A Thanksgiving Break For Walgreens Staff: Company Is Closing Nearly All Of Its Stores For The Holiday
Portfolio Pulse from Shivani Kumaresan
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) announced that most of its stores will be closed on Thanksgiving Day, marking the first time in its history to do so following employee protests over working conditions. However, about 700 of its 24-hour locations will remain open. The decision reflects the company's acknowledgment of the mounting pressures on pharmacists, including significant prescription backlogs and the increased workload from vaccine administration. Walgreens aims to show appreciation for its employees' hard work by providing time off. WBA shares closed down 3.71% at $20.75 on Thursday.
November 17, 2023 | 11:34 am
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Walgreens Boots Alliance, Inc. will close most stores on Thanksgiving due to employee protests over working conditions, with some 24-hour locations remaining open. The company's stock closed down 3.71% at $20.75.
The closure of most Walgreens stores on Thanksgiving is a direct response to employee protests and the current stressful conditions for pharmacists. This move, while positive for employee morale, may have a short-term negative impact on sales during the holiday, which could be a factor in the stock's recent decline. The stock's drop on Thursday may also reflect investor concerns about the potential financial impact of the closures.
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